§ Sir Teddy TaylorTo ask the Chancellor of the Exchequer if it is the policy of Her Majesty's Government that the House will be formally advised before any decision is taken to link the value of sterling, formally or informally, to other currencies. [18151]
§ Mr. Nelson[holding answer 4 April 1995]: As the Prime Minister has made clear, the Government have no plans to rejoin the ERM in the lifetime of this Parliament. He has also made it clear that any future decision to seek to join a single currency would need the approval of Parliament. The details of exchange rate arrangements are, of course, market sensitive and it has been the practice of successive Governments not to announce them in advance.